Course Description

RBC: The Insurance Process

  This course was specifically designed for RBC agents in Canada and utilizes aspects of the RBC training manual.  However, any agent will benefit from the knowledge gained from this course since it highlights the insurance process that any agent might wish to follow.

  It is important to RBC that their staff understand the importance of product suitability so part of the goal is to provide pertinent information regarding assessing consumer goals and their personal financial situation so that appropriate recommendations can be made and the very best products for the goals implemented.

  Along with product suitability, RBC wanted their agents to understand Canadian laws and work within their guidelines.  Most agents want to do a good job; without proper education that is not always an easy task.  By creating a course that provides the tools necessary, agent do a better job. When agents do a better job, consumers benefit.

  This course also looks at anti-money laundering and the reasons that certain things need to be done a particular way.  Those who wish to pass illegally-gained funds into legal channels look for any object with cash values and that certainly describes many insurance products.  These individuals do not mind early withdrawal penalties or surrender penalties; they need a way to pass illegal funds into legal channels so they consider penalties a cost of doing business.  It is vitally important for agents to recognize the danger signs when buyers seem too willing to accept risks or charges that the general consumer would complain about.

  Since annuities are an excellent source for holding funds for future use, a chapter looks at their advantages and how they work.

  Finally, the course examines policyholder service.  While the sale is the highlight of day for an agent, follow-up is just as important in maintaining business.  Not only does it keep business on the books; it may also lead to referrals.  For the consumer, service is vitally important and they expect to receive it from either the agent or the insurer (preferably the agent since they have met them personally).  Good service is actually an ethical component of insurance and those who wish to remain an agent long-term realize it.

  This course is excellent for agents in the first five years of business but it is also good for any person in the insurance industry since it addresses all elements, from beginning to end, of the insurance process.

United Insurance Educators, Inc.